Prudential Financial, Inc. (PRU) Position Lowered by Prudential Financial Inc.
Prudential Financial Inc. reduced its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 660,719 shares of the financial services provider’s stock after selling 3,430 shares during the period. Prudential Financial Inc. owned approximately 0.15% of Prudential Financial worth $71,451,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the stock. Westpac Banking Corp raised its position in shares of Prudential Financial by 103.7% in the first quarter. Westpac Banking Corp now owns 54,100 shares of the financial services provider’s stock worth $5,100,000 after buying an additional 27,536 shares during the last quarter. Financial Counselors Inc. raised its position in shares of Prudential Financial by 3.4% in the first quarter. Financial Counselors Inc. now owns 72,807 shares of the financial services provider’s stock worth $7,767,000 after buying an additional 2,365 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Prudential Financial by 3.3% in the first quarter. Vanguard Group Inc. now owns 30,272,486 shares of the financial services provider’s stock worth $3,229,469,000 after buying an additional 968,500 shares during the last quarter. APG Asset Management N.V. raised its position in shares of Prudential Financial by 1.2% in the second quarter. APG Asset Management N.V. now owns 995,020 shares of the financial services provider’s stock worth $107,601,000 after buying an additional 11,600 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Prudential Financial by 7.4% in the first quarter. Russell Investments Group Ltd. now owns 371,824 shares of the financial services provider’s stock worth $39,672,000 after buying an additional 25,581 shares during the last quarter. 64.44% of the stock is currently owned by institutional investors.
Prudential Financial, Inc. (PRU) opened at 102.82 on Monday. The company’s 50-day moving average price is $109.15 and its 200-day moving average price is $107.92. The company has a market capitalization of $43.90 billion, a P/E ratio of 11.48 and a beta of 1.50. Prudential Financial, Inc. has a 52 week low of $77.01 and a 52 week high of $115.26.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 EPS for the quarter, missing the Zacks’ consensus estimate of $2.70 by $0.61. Prudential Financial had a net margin of 7.15% and a return on equity of 8.98%. The firm had revenue of $13.03 billion during the quarter, compared to the consensus estimate of $12.45 billion. During the same quarter in the previous year, the company posted $1.84 earnings per share. On average, equities analysts forecast that Prudential Financial, Inc. will post $10.14 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Tuesday, August 22nd will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $3.00 dividend on an annualized basis and a yield of 2.92%. Prudential Financial’s payout ratio is 33.63%.
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PRU has been the topic of a number of recent analyst reports. ValuEngine raised Prudential Financial from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. BidaskClub lowered Prudential Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Prudential Financial in a research report on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $113.00 target price on shares of Prudential Financial in a research report on Tuesday, June 27th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Prudential Financial in a research report on Friday, August 11th. Ten investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Prudential Financial has a consensus rating of “Buy” and a consensus target price of $111.21.
In related news, insider Nicholas C. Silitch sold 14,897 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $110.00, for a total value of $1,638,670.00. Following the completion of the sale, the insider now directly owns 21,274 shares in the company, valued at $2,340,140. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $110.00, for a total value of $22,174,350.00. Following the completion of the sale, the chairman now owns 456,121 shares of the company’s stock, valued at $50,173,310. The disclosure for this sale can be found here. Insiders sold 220,615 shares of company stock valued at $24,276,660 over the last 90 days. 0.66% of the stock is currently owned by company insiders.
Prudential Financial Company Profile
Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.
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